Mining a cryptocurrency is the process of confirming transactions before they are recorded in the distributed ledger of the Blockchain. It is a hugely profitable sector of the economy, and China currently controls over 75% of the mining network. China is the greatest bitcoin miner in terms of hash rate, a measure of the overall processing power utilised to maintain the bitcoin network, according to the most current estimates from the Cambridge Bitcoin Electricity Consumption Index. China accounted for around 65 percent of total electricity in April.

China banned cryptocurrency, and since then many company miners relocated their factories outside of China to new destinations, most of them go to Kazakhstan, North America.